The DOW bounced at the end of the time cycle. Cycles such as these occur over and over again. The only difficult thing is to have the patience and time to watch them and be in position to act on them. The cycles themselves are straight forward.
Chart courtesy of Stockcharts.com
The 1:1 descending Gann Angle from the high is just above the current level and should provide some amount of resistance.
Today’s move up on higher volume is still below the high last week and must make a new high quickly.
Post Modified: July 3rd, 2008 at 12:24 am
Tags: DOW · Price Retrace · Square of RangeNo Comments
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